An increase in the number of foreign tourists heading to Brazil is resulting in a rise in demand for property in the country from foreign investors.
With two major sporting events lined up in the next five years, tourist numbers in the South American country are set to continue to rise.
Tourist figures up 18.8 per cent in a year
The latest figures from the Brazilian Ministry of Tourism show that 4.4 million tourists arrived in Brazil in the first six months of 2011, an 18.8 per cent increase on the same period in 2010. And, Business Monitor International is now forecasting an increase of 21.5 per cent in arrivals to the country between now and 2015.
More international flights to areas such as Porto Alegre and Fortaleza have helped and the increased numbers of visitors are expected to contribute $9 billion to the economy by 2015. Add onto this the impact of the 2014 World Cup and 2016 Olympic Games and Brazil seems set for a tourist boom over the next few years.
Investors from around the world snapping up property in Brazil
This increase in tourism is also helping to drive demand for property in Brazil as investors arrive in the country from all over the world. Property Abroad reports that ââ¬Ëproperty companies reporting huge increases in foreign demand.ââ¬â¢
This demand from overseas investors is on top of huge domestic demand. Recent figures show that the country has a 7 million shortage of homes with the countryââ¬â¢s population set to increase by a fifth over the next decade.
Brazil remains one of the strongest property markets in the world and investors are securing 6-7 per cent rental yields in apartments and townhouses in some of Brazilââ¬â¢s major cities. Occupancy in the country is high and rising domestic wealth also means there is strong resale demand for these homes.
Author Nick Marr
Are you looking to buy property in Brazil ? Ceara , Sao Paulo , Florianópolis , Ilha De Itamaracá , Fortaleza
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Author
Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.